Common use of Right of Accumulation Clause in Contracts

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund Xxxxxxxxxxx Limited Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund Xxxxxxxxxxx Limited Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o ? Class A and Class B shares you purchase for your individual accounts accounts, (including IRAs and 403(b) plans), ) or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current ? current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o |_| Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| ? The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Fund Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund II Xxxxxxxxxxx Limited Limited-Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index 000 Xxxxx Xxxxxxxxxxx Main Xxxx Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap XxxXxx Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a thirteen (13-) month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 ninety (90) days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a thirteen (13-) month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 ninety (90) days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Real Estate Fund Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Technologies Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Enterprise Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Europe Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Global Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth Gold & Income Special Minerals Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Growth Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth High Yield Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Intermediate Municipal Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal International Bond Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Growth Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Small Company Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Limited-Term Government Fund OSM1- Gartmore Millennium Growth Fund II Xxxxxxxxxxx Limited Term Government Main Street Growth & Income Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Opportunity Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Small Cap Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap XxxXxx Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap Multiple Strategies Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-13 month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-13 month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions concessions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions concessions allowed or paid to the dealer over the amount of commissions concessions that apply to the actual amount of purchases. The excess commissions concessions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions concessions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or ----------- - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund Xxxxxxxxxxx Limited Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and And the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| |_| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), or - for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund Xxxxxxxxxxx Limited Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o Class A and Class B shares you purchase for your individual accounts (including IRAs and 403(b) plans), - or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o Class A and Class B shares of Xxxxxxxxxxx funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund Xxxxxxxxxxx Limited Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index Xxxxxxxxxxx Main Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap XxxXxx Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a 13-month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a 13-month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.

Right of Accumulation. To qualify for the lower sales charge rates that apply to larger purchases of Class A shares, you and your spouse can add together: o ? Class A and Class B shares you purchase for your individual accounts accounts, (including IRAs and 403(b) plans), ) or for your joint accounts, or for trust or custodial accounts on behalf of your children who are minors, and o Current ? current purchases of Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds Funds to reduce the sales charge rate that applies to current purchases of Class A shares, and o |_| Class A and Class B shares of Xxxxxxxxxxx funds Funds you previously purchased subject to an initial or contingent deferred sales charge to reduce the sales charge rate for current purchases of Class A shares, provided that you still hold your investment in one of the Xxxxxxxxxxx funds. A fiduciary can count all shares purchased for a trust, estate or other fiduciary account (including one or more employee benefit plans of the same employer) that has multiple accounts. The Distributor will add the value, at current offering price, of the shares you previously purchased and currently own to the value of current purchases to determine the sales charge rate that applies. The reduced sales charge will apply only to current purchases. You must request it when you buy shares. |X| ? The Xxxxxxxxxxx Funds. The Xxxxxxxxxxx funds are those mutual funds for which the Distributor acts as the distributor or the sub-distributor and currently include the following: Xxxxxxxxxxx Bond Fund Xxxxxxxxxxx Municipal Bond Fund Xxxxxxxxxxx California Municipal Fund Xxxxxxxxxxx New York Municipal Fund Xxxxxxxxxxx Capital Appreciation Fund Xxxxxxxxxxx New Jersey Municipal Fund Xxxxxxxxxxx Capital Preservation Fund Xxxxxxxxxxx Pennsylvania Municipal Fund Xxxxxxxxxxx Capital Income Fund Xxxxxxxxxxx Quest Balanced Value Fund Xxxxxxxxxxx Champion Income Fund Xxxxxxxxxxx Quest Capital Value Fund, Inc. Xxxxxxxxxxx Concentrated Growth Fund Xxxxxxxxxxx Quest Global Value Fund, Inc. Xxxxxxxxxxx Convertible Securities Fund Xxxxxxxxxxx Quest Opportunity Value Fund Xxxxxxxxxxx Developing Markets Fund Xxxxxxxxxxx Quest Value Fund, Inc. Xxxxxxxxxxx Disciplined Allocation Fund Xxxxxxxxxxx Real Asset Fund Xxxxxxxxxxx Discovery Fund Xxxxxxxxxxx Rochester National Municipals Fund Xxxxxxxxxxx Emerging Growth Fund Xxxxxxxxxxx Senior Floating Rate Fund Xxxxxxxxxxx Emerging Technologies Fund Xxxxxxxxxxx Small Cap Value Fund Xxxxxxxxxxx Enterprise Fund Xxxxxxxxxxx Special Value Fund Xxxxxxxxxxx Europe Fund Xxxxxxxxxxx Strategic Income Fund Xxxxxxxxxxx Global Fund Xxxxxxxxxxx Total Return Fund, Inc. Xxxxxxxxxxx Global Growth & Income Fund Xxxxxxxxxxx Trinity Core Fund Xxxxxxxxxxx Gold & Special Minerals Fund Xxxxxxxxxxx Trinity Large Cap Growth Fund Xxxxxxxxxxx Growth Fund Xxxxxxxxxxx Trinity Value Fund Xxxxxxxxxxx High Yield Fund Xxxxxxxxxxx U.S. Government Trust Xxxxxxxxxxx Intermediate Municipal Fund Xxxxxxxxxxx Value Fund Xxxxxxxxxxx International Bond Fund Limited-Term New York Municipal Fund Xxxxxxxxxxx International Growth Fund Rochester Fund Municipals Xxxxxxxxxxx International Small Company Fund OSM1- Gartmore Millennium Growth Fund II Xxxxxxxxxxx Limited Limited-Term Government Fund OSM1 - Xxxxxxxx Growth Fund Xxxxxxxxxxx Main Street Growth & Income Fund OSM1 - Mercury Advisors S&P 500 Index 000 Xxxxx Xxxxxxxxxxx Main Xxxx Street Opportunity Fund OSM1 - Mercury Advisors Focus Growth Fund Xxxxxxxxxxx Main Street Small Cap Fund OSM1 - QM Active Balanced Fund Xxxxxxxxxxx MidCap XxxXxx Fund OSM1 - Salomon Brothers Capital Fund Xxxxxxxxxxx Multiple Strategies Fund and the following money market funds: Centennial America Fund, L. P. Centennial New York Tax Exempt Trust Centennial California Tax Exempt Trust Centennial Tax Exempt Trust Centennial Government Trust Xxxxxxxxxxx Cash Reserves Centennial Money Market Trust Xxxxxxxxxxx Money Market Fund, Inc. 1 - "OSM" stands for Xxxxxxxxxxx Select Managers There is an initial sales charge on the purchase of Class A shares of each of the Xxxxxxxxxxx funds except the money market funds. Under certain circumstances described in this Statement of Additional Information, redemption proceeds of certain money market fund shares may be subject to a contingent deferred sales charge. |X| Letters of Intent. Under a Letter of Intent, if you purchase Class A shares or Class A and Class B shares of the Fund and other Xxxxxxxxxxx funds during a thirteen (13-) month period, you can reduce the sales charge rate that applies to your purchases of Class A shares. The total amount of your intended purchases of both Class A and Class B shares will determine the reduced sales charge rate for the Class A shares purchased during that period. You can include purchases made up to 90 ninety (90) days before the date of the Letter. A Letter of Intent is an investor's statement in writing to the Distributor of the intention to purchase Class A shares or Class A and Class B shares of the Fund (and other Xxxxxxxxxxx funds) during a thirteen (13-) month period (the "Letter of Intent period"). At the investor's request, this may include purchases made up to 90 ninety (90) days prior to the date of the Letter. The Letter states the investor's intention to make the aggregate amount of purchases of shares which, when added to the investor's holdings of shares of those funds, will equal or exceed the amount specified in the Letter. Purchases made by reinvestment of dividends or distributions of capital gains and purchases made at net asset value without sales charge do not count toward satisfying the amount of the Letter. A Letter enables an investor to count the Class A and Class B shares purchased under the Letter to obtain the reduced sales charge rate on purchases of Class A shares of the Fund (and other Xxxxxxxxxxx funds) that applies under the Right of Accumulation to current purchases of Class A shares. Each purchase of Class A shares under the Letter will be made at the offering price (including the sales charge) that applies to a single lump-sum purchase of shares in the amount intended to be purchased under the Letter. In submitting a Letter, the investor makes no commitment to purchase shares. However, if the investor's purchases of shares within the Letter of Intent period, when added to the value (at offering price) of the investor's holdings of shares on the last day of that period, do not equal or exceed the intended purchase amount, the investor agrees to pay the additional amount of sales charge applicable to such purchases. That amount is described in "Terms of Escrow," below (those terms may be amended by the Distributor from time to time). The investor agrees that shares equal in value to 5% of the intended purchase amount will be held in escrow by the Transfer Agent subject to the Terms of Escrow. Also, the investor agrees to be bound by the terms of the Prospectus, this Statement of Additional Information and the Application used for a Letter of Intent. If those terms are amended, as they may be from time to time by the Fund, the investor agrees to be bound by the amended terms and that those amendments will apply automatically to existing Letters of Intent. If the total eligible purchases made during the Letter of Intent period do not equal or exceed the intended purchase amount, the commissions previously paid to the dealer of record for the account and the amount of sales charge retained by the Distributor will be adjusted to the rates applicable to actual total purchases. If total eligible purchases during the Letter of Intent period exceed the intended purchase amount and exceed the amount needed to qualify for the next sales charge rate reduction set forth in the Prospectus, the sales charges paid will be adjusted to the lower rate. That adjustment will be made only if and when the dealer returns to the Distributor the excess of the amount of commissions allowed or paid to the dealer over the amount of commissions that apply to the actual amount of purchases. The excess commissions returned to the Distributor will be used to purchase additional shares for the investor's account at the net asset value per share in effect on the date of such purchase, promptly after the Distributor's receipt thereof. The Transfer Agent will not hold shares in escrow for purchases of shares of the Fund and other Xxxxxxxxxxx funds by OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plans under a Letter of Intent. If the intended purchase amount under a Letter of Intent entered into by an OppenheimerFunds XxxxxxxxxxxXxxxx prototype 401(k) plan is not purchased by the plan by the end of the Letter of Intent period, there will be no adjustment of commissions paid to the broker-dealer or financial institution of record for accounts held in the name of that plan. In determining the total amount of purchases made under a Letter, shares redeemed by the investor prior to the termination of the Letter of Intent period will be deducted. It is the responsibility of the dealer of record and/or the investor to advise the Distributor about the Letter in placing any purchase orders for the investor during the Letter of Intent period. All of such purchases must be made through the Distributor. |X| Terms of Escrow That Apply to Letters of Intent.